US Sen divesting his assets from companies dealing with Sudan
Nov 29, 2006 (WASHINGTON) — Sen. Sam Brownback and his family plan to withdraw hundreds of thousands of dollars from investments in companies that do business with Sudan. The Kansas Republican is encouraging others to do the same.
Brownback, who is considering running for the White House in 2008, has spoken out against genocide in the African nation. Last week, he and Sen. Dick Durbin, a Democrat, wrote 44 governors to urge them to divest their employee pension funds from businesses linked to Sudan.
“With so many lives at stake, we should do all we can to stop this genocide, both as individuals and as a community,” Brownback said Wednesday. “We can all make a difference in Darfur.”
Six states — California, Connecticut, Illinois, Maine, New Jersey and Oregon — have taken steps to divest public pension funds from companies doing business in Sudan.
The Darfur region of Sudan has been torn by violence since 2003, when rebels of ethnic African tribes rose up against the Arab-led government, complaining of discrimination and mistreatment. At least 200,000 people have died in the violence and an additional 2.5 million people have become refugees in the region since 2003.
Divestment was used successfully in the 1980s as a means to protest apartheid policies in South Africa.
Adam Sterling, executive director of the Washington-based Sudan Divestment Task Force, said divestiture by states and more than 30 colleges and universities has totaled several billion dollars. More than a dozen state legislatures will consider restrictions on their Sudan-linked investments next year, he said.
Brownback’s office declined to specify how much money Brownback’s family planned to divest. The Kansas City Star reported Wednesday that Brownback’s family has between $186,000 (A141,000) and $565,000 (A429,000) invested in 10 mutual funds with investments in companies that do business in Sudan, according to a review of Brownback’s financial disclosure report.
The family’s largest holding is a blind trust worth as little as $1 million (A760 million) and as much as $5 million (A3.8 million). Brownback spokesman Brian Hart said the senator and his wife are seeking advice on whether any of the trust funds can be redirected away from companies linked to Sudan.
(AP)